Post on 09-May-2015
RenterIDHelping great renters
get great deals on great apartments
Initial AssumptionThe Customer:•Renters who are planning to rent a new property in the future•Landlords and management companies
The Problem (we assume):•Renter: The landlord charges fees to apply to rent, which are costly•Renter: It is difficult to show that as a high quality renter•Landlord: Credit check data is expensive to acquire•Landlord: there is overhead in validating a renter’s application
Major functionality to solve problem:•Rental history verified by independent 3rd party (fact checking)•Credit check on file for renter with profile•A reusable profile has been created for the renter
Gen 1Gen 1
#CustDev TouchesMethod Touches Outcome
Renter Survey 14 Initial feedback, open to profile, reluctant to pay
Landlord Survey (Long) 15 Landlords frustrated with fragmented tools, want central solution that’s accurate
Post-Pivot Renter Survey 9 Would pay for verification, would love to have search brought to them
VerifyApp: Mock-up feedback: Views / Feedback
292, 45 Feature/design feedback. Not that actionable
Landlord (E-Mails & Calls) 30 Rental history is more important than credit report
Renter (E-mails & Calls) 20 Found 2 “30+ min interview subjects”
Statements of Interest (LL) 7 A need to find qualified renters
Statement of Approval (LL) 4 Validation of pivot, up to 1 month’s rent
User FeedbackRe
nter
Land
lord
“It would be super useful, if I could get what I
was after” (L)
“It would be super useful, if I could get what I
was after” (L)
High quality renters should be wooed (JC)
High quality renters should be wooed (JC)
“To pay for something with
no guarantee is a tough sell (JZ)
“To pay for something with
no guarantee is a tough sell (JZ)
I would pay up to one month's rent just for a tenant's
verified rental history
I would pay up to one month's rent just for a tenant's
verified rental history
I would love to be able to find
qualified renters online. Screw the
brokers!
I would love to be able to find
qualified renters online. Screw the
brokers!
I would rather have a tenant's verified rental history than an actual
credit report
I would rather have a tenant's verified rental history than an actual
credit report
"Can I sign up today?"
"Can I sign up today?"
Pivot TableAssumption Lesson Pivot
Renters will pay up front Renters only want to pay if there’s a guaranteed value
“Verification” is an add-on to differentiate users, paid later
Renters want help in the rental negotiation
Renters want help in finding a deal on a great place
Use a renter profile as a means to connect renters and landlords
Searching isn’t a problem, there’s Craigslist
“Craigslist is a bitch” (GH), while it’s a great tool, it’s a lot of effort to do a search.
Make the search process easier by rewarding renters with matching landlords
Verifications are mainly good for a renter, so they should pay
Landlords want qualitative renter data beyond a credit rating as well
Let landlords pay to get access to these high quality renter profiles
After
PivotAfter
Pivot
Validation
4Signed Statements
of ApprovalSigned Statements
of Interest
7